Leading brokerage firm, Macquarie has upgraded HDFC on better subsidiary valuations. The brokerage has upgraded its rating on the stock from the earlier assigned rating of ‘Neutral’ to ‘Outperform’ and has also announced to raise its target price to Rs. 1,890.

Leading housing finance company, Swarna Pragati Housing Microfinance, has raised Rs. 50 crore in debt funding from State Bank of India (SBI). The firm will use the raised funds to grow its loan portfolio and strengthening its presence in the rural affordable housing market.

2017-08-17 :HDFC Bank revises interest rates on saving accounts

HDFC Bank has announced a revision in its savings bank interest rate. Post revision, customers maintaining savings bank account balance of Rs. 50 lakh and above will continue to earn interest at 4 per cent per annum while those maintaining account balance of below Rs. 50 lakh will earn interest at the rate of 3.5 per cent per annum from earlier 4 per cent. The revised rates will be applicable to both resident and non-resident customers. The revised rates will come into effect from 19th August, 2017.

Private sector lender, Yes Bank has reduced the interest rate on savings bank accounts by 1 per cent to 5 per cent for deposits of less than Rs. 1 lakh. However, the bank will continue to pay 6 per cent interest on deposits of over Rs. 1 lakh and less than Rs. 1 crore. Simultaneously, the bank has also slashed interest rate on savings accounts to 6.25 per cent from existing 6.5 per cent for deposits over Rs 1 crore. The new rates will be effective from 1st September, 2017.

2017-08-17 :ICICI Bank now has 3.3 million virtual addresses on the UPI

Private sector lender, ICICI Bank now has 3.3 million Virtual Payment Addresses (VPAs) on UPI generated from its mobile applications. The bank has announced that it has also acquired 130,000 merchants through its EazyPay application at the end of the June quarter. Further, the UPI transactions have witnessed a growth of 12 per cent during the period between June and July 2017 due to the rise in the number of net banking customers.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.